Catering forecasts are looking positive
Food. Aren’t we all just obsessed with mouth-watering, drool-worthy food? Catering is this wonderful phenomenon that allows foodies to bring delicious creations to their friends, family and work colleagues at any event (with the hope they’ll talk about it for the next year!) More than just food on a plate, catering allows food creatives to rock your world, bringing their unique flare to any occasion. Hiring caterers for smaller family events is anticipated to become more popular over the next 5 years. Consumers are also willing to pay premium prices for on-trend food, leaving opportunity for new operators to enter the industry to leverage industry growth in the coming years.
Industry reports suggest that there is rising competition in event catering services and targeting niche markets will be advantageous to stand out in the crowd. The number of boutique, niche industry operators is forecast to increase over the next five years, as smaller players seek to differentiate themselves from larger operators. At Bella Manufacturing we offer a unique opportunity within the industry with our custom mobile food and catering solutions. Food trucks have been looming as a competitor within the market with the niche nature of their offerings, mobility and low expenses proving popular. With food trucks being one of many mobile catering options offered at Bella Manufacturing, this gives operators the opportunity to select a unique solution to suit their menu, style and objectives.
Event catering services can be segmented into three domains: private events (21.6%), corporate events (43.9%), and weddings (34.5%). Choosing the right segment is vital for the longevity of any business in the industry. Knowing who you are, where you play and what people you attract will keep you ahead of the game. With an added layer of complexity, cafes and restaurants have risen in competitiveness within the industry with their increasingly diversified catering and event offerings.
Event catering is a fun and exciting industry to be a part of, allowing the true superstars to shine and the foodies to come out to play. For new operators entering the market, we urge you to do your research, find your niche and infiltrate the market with your special flare. Bella Manufacturing stand by all our catering clients, guiding them from the initial mobile catering solution selection, all the way through to their first event. Check out IBIS World for more industry related information.